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>> all right, steve. will do. we are still awaiting president obama to see how things are taking shape on parts of the deal for washington. back in two minutes. sfls welcome back to prounch. in just a few moments the president will take to the foed poed yum there to talk about the fiscal cliff negotiations. john, you have outlined what we believe are some of the components of this possible deal. given what you know, which side gave more at this point? >> i think everybody is giving. look, the president wanted, and democrats wanted, having campaigned on it, $250,000 threshold for family income for the return to the clinton jer gentleman tafrm rates of 39.6. republicans didn't want tax increases on anybody. democrats wanted more on estate tax. they are getting it. not as much as the president proposed in his budget. so the magic of these deals is that everybody can describe something as victory. and if we get it, if democrats ultimately can come to an accord with republicans on the length of the deferral of the auto
>> all right, steve. will do. we are still awaiting president obama to see how things are taking shape on parts of the deal for washington. back in two minutes. sfls welcome back to prounch. in just a few moments the president will take to the foed poed yum there to talk about the fiscal cliff negotiations. john, you have outlined what we believe are some of the components of this possible deal. given what you know, which side gave more at this point? >> i think everybody is giving....
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the final weeks of president obama's first term are upon us. it's hard to remember the bizarre conspiracy theories. let eegs look back at some of the worst first. others on the right were up in arms over rumors about what the trip would cost. >> i think we know that just within a day or so, the president of the united states will be taking a trip over to india that is kmexpected to cos the taxpayers $200 million dlarsz a day. the american people are quite frankly struggling right now. >> for comparison, $200 million a day would have surpassed the war in afghanistan at the time. that nonfactual story about the cost of obama's trip was started by an unnamed source on an indian news web site. we can't talk about conspiracy theories without bringing up rush limbaugh. >> you've got a hurricane coming. the national hurricane center, with a government agency, very hopeful that the hurricane gets near tampa. obama is sending in fema in advance. in tampa, a bunch of rvs and stuff making it look like a disaster area before the hurricane even hits there.
the final weeks of president obama's first term are upon us. it's hard to remember the bizarre conspiracy theories. let eegs look back at some of the worst first. others on the right were up in arms over rumors about what the trip would cost. >> i think we know that just within a day or so, the president of the united states will be taking a trip over to india that is kmexpected to cos the taxpayers $200 million dlarsz a day. the american people are quite frankly struggling right now....
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and again, that is something that right after the election and well into december obama said he was going to insist on a permanent end to the debt ceiling. that was going to be part of this deal. he insisted on it. he backed off and indicated through the negotiations that he would be okay with a two-year patch. and now it is not even in there at all. it is very clear we'll have a showdown similar to this in about a month when we hit the debt expiration, except in a month, republicans will -- excuse me, democrats and obama will not have the kind of leverage that the automatic expiration that the bush tax cuts gave them. it is a discouragement that they can be em boldened, how they can move president obama, and the fact he won the election on the fact he would move the taxes, on 250,000 plus. >> i agree with steve on that, those are the two big numbers, going up from 250 to 400, for singles, 450 for couples, i have to say i personally like this deal more than the other, that included social security benefit cuts. that was not included. and i think the white house may have concluded that a,
and again, that is something that right after the election and well into december obama said he was going to insist on a permanent end to the debt ceiling. that was going to be part of this deal. he insisted on it. he backed off and indicated through the negotiations that he would be okay with a two-year patch. and now it is not even in there at all. it is very clear we'll have a showdown similar to this in about a month when we hit the debt expiration, except in a month, republicans will --...
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what do you make of president obama, the negotiator? there has been a lot of criticism from the left, frankly, that he gave too much to republicans as this part of the deal. he's showing them when his back is up against the wall, he will gave. 250,000 was his limit all along, what is he like as a negotiator? your thoughts? >> i don't think that is a fair criticism. there this is give and take, there are some on the left for who any give at all is a failed negotiation. the president is politically the big winner here. he got what he wanted with the tax cuts. he got what he wanted with the estate tax and other issues and the sequester delay. so i just think that the president working with senator mcconnell, who did a very good job with his conference in the senate, that they all look good. we have to see if we can do our job in the house. that's still to come today. >> congressman, thank you very much. happy new year and good luck going forward. >> i appreciate it. thank you. >>> coming up, the senate agrees to the fiscal cliff deal, but
what do you make of president obama, the negotiator? there has been a lot of criticism from the left, frankly, that he gave too much to republicans as this part of the deal. he's showing them when his back is up against the wall, he will gave. 250,000 was his limit all along, what is he like as a negotiator? your thoughts? >> i don't think that is a fair criticism. there this is give and take, there are some on the left for who any give at all is a failed negotiation. the president is...
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boehner said what do i get in return and obama said nothing. i get that free. that's who he is. the second term, this is a guy who has no interest in cutting spending. he has an interest in expanding the welfare state. he has now achieved it in welfare. he spoke earlier in his presidency. the first speech he gave joint session of congress education, energy and healthcare. he is in part on his way. going to revolutionize the country. he he doesn't care. when we heard that what he said this afternoon, he he was mocking the idea of cutting spending and then he said i'm going to stand up for seniors and all the others will be heard. this is an annall of this is dot care if we go over the cliff or not. he thinks he wins either way. he is not going to bend on spending in the future. >> bret: down the road, does this mini deal come together tonight, tomorrow? >> i think it likely will and i think it's likely the house will reject it. >> i don't know because i didn't think we were going to go over the cliff. >> bret: and here we are. >> here we are. i was wrong about that. i would hope
boehner said what do i get in return and obama said nothing. i get that free. that's who he is. the second term, this is a guy who has no interest in cutting spending. he has an interest in expanding the welfare state. he has now achieved it in welfare. he spoke earlier in his presidency. the first speech he gave joint session of congress education, energy and healthcare. he is in part on his way. going to revolutionize the country. he he doesn't care. when we heard that what he said this...
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your screen right there. on the other side of the break we'll continue our discussion about the fiscal cliff and what it means for the markets and we'll look ahead to the president's speech, or at least his comments on later today when we come back. i am probably going to the gas station about once a month. last time i was at a gas station was about...i would say... two months ago. i very rarely put gas in my chevy volt. i go to the gas station such a small amount that i forget how to put gas in my car. [ male announcer ] and it's not just these owners giving the volt high praise. volt received the j.d. power and associates appeal award two years in a row. ♪ [ lisa ] my name's lisa, and chantix helped me quit. i honestly loved smoking, and i honestly didn't think i would ever quit. [ male announcer ] along with support, chantix is proven to help people quit smoking. it reduces the urge to smoke. it put me at ease that you could smoke on the first week. [ male announcer ] some people had changes in behavior,
your screen right there. on the other side of the break we'll continue our discussion about the fiscal cliff and what it means for the markets and we'll look ahead to the president's speech, or at least his comments on later today when we come back. i am probably going to the gas station about once a month. last time i was at a gas station was about...i would say... two months ago. i very rarely put gas in my chevy volt. i go to the gas station such a small amount that i forget how to put gas...
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and if you look at the period during the obama term, it's been at 24% as high as 25%. so it certainly hasn't come down. so i don't know what he was referring. david: what happened is and i'm looking right at federal outlays right now, we can put it on the screen. we had the big jump because of stimulus 2009 which' greed part republican, part democrat but it stayed there. it doesn't go down. it went up in 2011. not down. the basically -- baseline is now this and that's why the president needs all new taxes. >> if you look at change in deficit past two years we have upwards 9% deficit or so per year and part of that of course is a result of the recession. when you have a recession, tax revenues fall. so if he fell from 18 1/2% down to 15% but the big, bigger component of it was just the one you mentioned was the discretionary increase in spending from 20.8% to 25% during the first year. david: yet we just heard today, i mean god knows what kind of deal they will end up with, windmill subsidies. windmills have failed terribly. it is more expensive to get energy from windm
and if you look at the period during the obama term, it's been at 24% as high as 25%. so it certainly hasn't come down. so i don't know what he was referring. david: what happened is and i'm looking right at federal outlays right now, we can put it on the screen. we had the big jump because of stimulus 2009 which' greed part republican, part democrat but it stayed there. it doesn't go down. it went up in 2011. not down. the basically -- baseline is now this and that's why the president needs...
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does that sound right to you? >> no. in the first place, he has insisted on raising taxes, letting taxes go up, is what we're doing, for people above a certain income level. he does not control the house of representatives. part of this issue, you know, people forget, the american people are the ones who set this stage. they voted for one set of people in 2008, then they changed their minds. at least those who voted, and voted for a different set of people in 2010. we have an unusual constitution. in america you're governed by the results of the last three elections, not just the last election in most other democracies. that's why you have this deadlock. i do believe the 2012 election moved us in this direction. so no, i don't think the president's caved totally. he's made some reasonable compromises with reality. the point that he's inviting, hesitating, is just wholly inaccurate. he doesn't have to invite hostage taking. the notion that the president pounds his fists and makes things happen the way he wants, it's the a
does that sound right to you? >> no. in the first place, he has insisted on raising taxes, letting taxes go up, is what we're doing, for people above a certain income level. he does not control the house of representatives. part of this issue, you know, people forget, the american people are the ones who set this stage. they voted for one set of people in 2008, then they changed their minds. at least those who voted, and voted for a different set of people in 2010. we have an unusual...
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social security. >> right. >> your party's nominee last year ran against obama -- or in this campaign ran against obama for cutting medicare. what are the specific entitlement savings that you guys want to enact? because that's your ask of obama. he's told you what taxes he wants to raise. >> i've got a whole list of them. i mean, certainly starting with chain cpi, but the age, the copay, means testing. >> he's agreed to that. >> betting on competitive situation in between medicare manage and deeper service without any cap i mean it adds up to about a trillion dollars. and when you have a situation where americans are paying one-third of the cost of medicare, i don't think people realize that, but literally people are paying one-third of the cost of medicare, we have 20 million more americans coming on medicare over the next decade, i mean it's a time bomb. >> i agree with you it's a time bomb. but remember that the -- the standing document for republican boldness is the ryan budget. you get credit for that. he did not have ten-year savings on medicare and social security. >> and i do
social security. >> right. >> your party's nominee last year ran against obama -- or in this campaign ran against obama for cutting medicare. what are the specific entitlement savings that you guys want to enact? because that's your ask of obama. he's told you what taxes he wants to raise. >> i've got a whole list of them. i mean, certainly starting with chain cpi, but the age, the copay, means testing. >> he's agreed to that. >> betting on competitive situation in...
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here's what he said. >> all right. so we're struggling to bring you that sound, but basically he was saying that republicans are trying to protect the wealthy when it comes to taxes. and to that point, ali, we do have new information about where the proposal stands at this point according to democratic sources. they have actually gone up to saying $450,000, the first $450,000 of income, that would be protected from a tax increase. so that's higher, obviously, than what the president's starting point was, which was $250,000, and even higher than where he ended in his sort of discussions with speaker boehner about a larger deal. he was at 400 there. obviously, republicans want higher than that. we'll see where that number comes out. >> it's valid to say something's happening. in other words, that at least gives you some sense of negotiation, which is a good thing. >> reporter: that's right. things haven't -- we've had moments here where there's a complete impasse, no one's talking, people are throwing their hands up in t
here's what he said. >> all right. so we're struggling to bring you that sound, but basically he was saying that republicans are trying to protect the wealthy when it comes to taxes. and to that point, ali, we do have new information about where the proposal stands at this point according to democratic sources. they have actually gone up to saying $450,000, the first $450,000 of income, that would be protected from a tax increase. so that's higher, obviously, than what the president's...
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here's what both sides are considering in a potential deal right now. an increase in tax rates for families making over $450,000 a year. extending unemployment benefits. and an increase in the estate tax. the president seemed hopeful but cautious when he addressed the american people earlier today. >> today, it appears that an agreement to prevent this new year's tax hike is within sight. but it's not done. there are still issues left to resolve. but we're hopeful that congress can get it done. but it's not done. >> let's get straight to our chief white house correspondent jessi jessica yellin. she's over at the white house with the very latest. the president seems pretty optimistic that it's within a few hours we could have a deal, right? >> reporter: wolf, the people i just spoke to here say they are no more or less optimistic than they were this morning. which is to say they are not cueing the confetti just yet. senator mitch mcconnell, the republican leader on the hill, is still talking to the white house. the white house is in constant contact with
here's what both sides are considering in a potential deal right now. an increase in tax rates for families making over $450,000 a year. extending unemployment benefits. and an increase in the estate tax. the president seemed hopeful but cautious when he addressed the american people earlier today. >> today, it appears that an agreement to prevent this new year's tax hike is within sight. but it's not done. there are still issues left to resolve. but we're hopeful that congress can get it...
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president obama released a statement this morning saying, quote, this agreement is the right thing to do for our country and the house should pass it without delay. he promises to do more to reduce the deficit. that fight like low to begin within weeks as republicans demand spending cuts in exchange for raising the debt ceiling. juliet, brian, steve, happy new year. >> steve: thank you very much. i believe this could be the very first live shot from the white house. wendell, technically, because the house has not yet passed it, technically we've sailed off the cliff, right? >> we are off the cliff now. you feel you're in free fall? >> steve: a little bit. thank you, sir. >> juliet: thanks. congratulations on the first live shot. >> steve: indeed. >> brian: what is in this bill? as wendell just said, receipts go over a few things. taxes do go up for singles, individuals who make 400,000 and above. for couples who make 450,000 and above. dividend and capital gains taxes rise from 15% to 20%. if you happen to die, you are going to be given up 40% if your estate is worth more than 5 milli
president obama released a statement this morning saying, quote, this agreement is the right thing to do for our country and the house should pass it without delay. he promises to do more to reduce the deficit. that fight like low to begin within weeks as republicans demand spending cuts in exchange for raising the debt ceiling. juliet, brian, steve, happy new year. >> steve: thank you very much. i believe this could be the very first live shot from the white house. wendell, technically,...
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some folks don't want to appear in any way too close to president obama right now. >> let's move on in terms of massachusetts. we got the information that ted kennedy jr. will not run. scott brown doing well in all the polls. president obama will be fully engaminged in pass pass. how is that looking? they don't have a big horse to run. >> the polls show a good chance of scott brown being able to at least have the even money to win back a senate seat in massachusetts. when you talk to the democrats, they say look, the way that scott brown was able to win in 2010 were under very special circumstances. huh a democratic candidate who was not running a good campaign. the democrats were caught unaware and very surprised. you had that very tough debate on health care. you have the vacancy and democrats say you won't have all the situations at the end. they might be able to beat scott brown in a special contest. >> always tough. you think they can pull it off. lastly it was about chuck hegel, feeling it from the left and the right. the defense built up and every time he takes a twitter, he see
some folks don't want to appear in any way too close to president obama right now. >> let's move on in terms of massachusetts. we got the information that ted kennedy jr. will not run. scott brown doing well in all the polls. president obama will be fully engaminged in pass pass. how is that looking? they don't have a big horse to run. >> the polls show a good chance of scott brown being able to at least have the even money to win back a senate seat in massachusetts. when you talk...
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here is what is happening right now. president obama seen earlier for christmas in hawaii may cut his vacation early for fiscal cliff talks. congress returns thursday. >>> here is dramatic video we just got in from alabama where a large tornado blew through mobile tonight. another funnel cloud touched down in mississippi. and spending pulse reports retail holiday sales this year grew at its weakest pace since 2008 when this country was in recession. back to "caught on camera." >>> welcome back to "caught on camera." i'm contessa brewer. now, here's a young man who infuriates a series of driving instructors. he gets behind the wheel of his car and then takes call after call on his cell phone. but is it real or is it fake? let's watch and find out. >> driving is very easy, just relax drive, okay? >> this viral video hit the internet in 2008. >> watch for the pedestrian in front of you. >> shouldn't hit that guy, right? >> no. >> just how frustrated can a driving instructor get? we're about to see. [ ringing ] >> hello. >>
here is what is happening right now. president obama seen earlier for christmas in hawaii may cut his vacation early for fiscal cliff talks. congress returns thursday. >>> here is dramatic video we just got in from alabama where a large tornado blew through mobile tonight. another funnel cloud touched down in mississippi. and spending pulse reports retail holiday sales this year grew at its weakest pace since 2008 when this country was in recession. back to "caught on...
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president obama's 2010 trip to india. others on the right were up in arms over rue nors about what the trip would cost. >> i think we know that just within a day or so, the president of the united states will be taking a trip over to india that is expected to cost the taxpayers $200 million a day. we have never seen a trip at this level before at this level of excess. and i think it's not a good signal to send to the american people when the american people are, quite frankly, struggling right now with high job losses. >> $200 million a day would have surpassed the daily cost of the war in afghanistan at the time. it was started by an unnamed source on an indian news web site. we can't talk about conspiracy theories without bringing up rush limbaugh. this past august was cancelled due to hurricane isaac. >> you've got a hurricane coming. the national hurricane center, which is a government agency, very hopeful that the hurricane gets near tampa. the national hurricane center is obama. it's a national weather service, part
president obama's 2010 trip to india. others on the right were up in arms over rue nors about what the trip would cost. >> i think we know that just within a day or so, the president of the united states will be taking a trip over to india that is expected to cost the taxpayers $200 million a day. we have never seen a trip at this level before at this level of excess. and i think it's not a good signal to send to the american people when the american people are, quite frankly, struggling...
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we are doing all this spending to prop up the economy because the fundamentals are right. all of the things the obama administration has done have been anti growth, whether energy policy, trade with china, reregulation of wall street. and now this, taxing all those jobs creators, all those small businesses. i don't know why you would want to invest in this country now. gerri: let me ask you this. the congressional budget office has out its numbers. if the fiscal cliff hits they say u.s. gdp would shrink by half a percentage point and that unemployment will rise to over 9%. do you think they have the rights or are they just too conservative? will it be worse? >> if we actually went over the cliff we would be subtracted from domestic demand over $600 billion. that is about four percentage points in gdp. most economists were forecasting in the first half of next year hardly 2 percent growth. if you subtract 4% to spending from that year and a recession that is much deeper. the cbo tense and not be alarmist because they say what they are partisan, but congress read it paycheck
we are doing all this spending to prop up the economy because the fundamentals are right. all of the things the obama administration has done have been anti growth, whether energy policy, trade with china, reregulation of wall street. and now this, taxing all those jobs creators, all those small businesses. i don't know why you would want to invest in this country now. gerri: let me ask you this. the congressional budget office has out its numbers. if the fiscal cliff hits they say u.s. gdp...
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all right. that was president barack obama speaking on what he says is an insight deal on the fiscal cliff but not a final deal. a lot of cheering. felt like a campaign-ish rally. we're not just doing on the spending side anymore but clearly an obama optimistic about this deal. its chances and what it means for the white house. that does it for this edition of "andrea mitchell reports." happy new year, everyone. "news nation" is next. >>> hello there, i'm t.j. holmes. president obama speaking just moments ago and putting the pressure on. with just ten hours until the country goes over that fiscal cliff, the president announcing that agreement to prevent tax hikes for all americans is in sight. but there is no deal just yet. >> today it appears that an agreement to prevent this new year's tax
all right. that was president barack obama speaking on what he says is an insight deal on the fiscal cliff but not a final deal. a lot of cheering. felt like a campaign-ish rally. we're not just doing on the spending side anymore but clearly an obama optimistic about this deal. its chances and what it means for the white house. that does it for this edition of "andrea mitchell reports." happy new year, everyone. "news nation" is next. >>> hello there, i'm t.j....
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all right so we know president obama won reelection but the point is that the two parties resemble each other in so many ways so what will really come out of an obama second term and how will he define himself as a leader we'll just have to wait and see. and as we see so often politics extends well beyond the walls of washington sometimes reaching as far as the other side of the country to hollywood this election season are to america attended both the republican and democratic national conventions and witnessed firsthand the star power both parties brought out to beef up support and excitement surrounding their ticket argy correspondent liz wahl was at the democratic convention and hit the red carpet to speak to some of the biggest names in hollywood about their role in the political process. the red carpet rolled out the swarm of media awaits the arrival of the stars fresh out of the democratic national convention we just left president clinton's speech which was electrifying in and rallying the really energized everybody in that arena the event called got your six is a hollywood back
all right so we know president obama won reelection but the point is that the two parties resemble each other in so many ways so what will really come out of an obama second term and how will he define himself as a leader we'll just have to wait and see. and as we see so often politics extends well beyond the walls of washington sometimes reaching as far as the other side of the country to hollywood this election season are to america attended both the republican and democratic national...
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why do you think that's lacking so much between john boehner and president obama right now? >> well, again, they got very close in august of 2011 to get ago deal. and i think there's still some elements of that that can be reached. but look, i'm going to tell you, when you have harry reid making the comments that he did this morning and creating a poisoned atmosphere, those are the sort of things that slow down these sort of critical negotiations. i think, yes, the president and speaker boehner can get to an agreement, but they both need help from their respective parties and from their respective coleader, the opposite leaders in terms of making this work. and, again, what harry reid said today was not helpful to this entire process at all. >> speaker boehner, dictator -- >> i was in congress in 1995 and you remember gingrich only came to the table after he was embarrassed, after we went through this business of closing down the government, everybody said this was a terrible thing, you made a mistake. then he came to the table and worked things out with clinton. let's see w
why do you think that's lacking so much between john boehner and president obama right now? >> well, again, they got very close in august of 2011 to get ago deal. and i think there's still some elements of that that can be reached. but look, i'm going to tell you, when you have harry reid making the comments that he did this morning and creating a poisoned atmosphere, those are the sort of things that slow down these sort of critical negotiations. i think, yes, the president and speaker...
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nasdaq up 2% right now. it's been strong all day. now at 3,020. and the s&p up 1.5%. >> look at those stocks go. president obama saying a fiscal cliff agreement is quote, in sight. mitch mcconnell moments ago saying quote, we are very, very close. >> to d.c. and john harwood. he and eamon have been monitoring all day. why are we close but not there yet? what's left, john? >> what's left is the agreement between the two parties on delaying those automatic across the board defense and domestic budget cuts which nobody wants. they deliberately set up so they wouldn't take place. democrats want to defer those for a year. republicans say we're only going to put them off to the extent you can find budget cuts that match the amount that the sequester would have been. now, the republicans are offering two or three months, 60 or 90 days and suggesting cuts. but democrats have not agreed to that. which is why the deal has been held up. even though the main portions of the tax element have fallen into place. and i'll recap what those are. a higher clinton er
nasdaq up 2% right now. it's been strong all day. now at 3,020. and the s&p up 1.5%. >> look at those stocks go. president obama saying a fiscal cliff agreement is quote, in sight. mitch mcconnell moments ago saying quote, we are very, very close. >> to d.c. and john harwood. he and eamon have been monitoring all day. why are we close but not there yet? what's left, john? >> what's left is the agreement between the two parties on delaying those automatic across the board...
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call this free government program for the option that's right for you. gerri: earlier tonight on gerriwillis.com, we asked you if the white house fiscal cliff meeting between obama and congressional leaders, if it was a polical stunt or real negotiation. here is how you voted 96% said a political stun
call this free government program for the option that's right for you. gerri: earlier tonight on gerriwillis.com, we asked you if the white house fiscal cliff meeting between obama and congressional leaders, if it was a polical stunt or real negotiation. here is how you voted 96% said a political stun
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. >>> president obama aboard air force one right now. >>> former president george h.w. bush in intensive care, we'll ha the very latest. i vigil for firefighters, a tornado in action and december surfing in the great lakes. "early today" starts right now. >> announcer: this is "early today" for thursday, december 27th, 2012. >>> good morning, i'm mara schiavocampo. a powerful winter storm that brought an odd mix of tornadoes, heavy winds and snow to the nation's midsection is now wreaking havoc on the northeast. snow and sleet have produced treacherous road conditions from pennsylvania and western new york to maine with as much as a foot of snow expected in some areas. this storm so far being blamed for at least six deaths. it's also creating a travel nightmare for those trying to get home after the holidays. more than 1700 flights were canceled on wednesday. nbc's meteorologist dylan dreyer is tracking the storm for us this morning. dylan, what can you tell us? >> well, so far under 400 flights have been canceled in the northeast today. this storm is going to create so
. >>> president obama aboard air force one right now. >>> former president george h.w. bush in intensive care, we'll ha the very latest. i vigil for firefighters, a tornado in action and december surfing in the great lakes. "early today" starts right now. >> announcer: this is "early today" for thursday, december 27th, 2012. >>> good morning, i'm mara schiavocampo. a powerful winter storm that brought an odd mix of tornadoes, heavy winds and...
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Jan 1, 2013
01/13
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capitol hill is quiet right now after an unprecedented late night. normally these halls would stay empty on new year's day but both the house and senate are in session with billions of dollars in spending cuts and tax increases on the line. lawmakers missed the january 1 deadline but the bill will be retroactive. many taxpayers across the nation are frustrated lawmakers waited so long to act. >> the whole system is flawed. it's terrible that it takes this long to get something done that affects so many people. >> it has been a very frustrating process. >> reporter: if the measure becomes law, it will be the first significant bipartisan tax increase since 1990. danielle nottingham, cbs news, washington. >> the bill as it is written also keeps the alternative minimum tax for the wealthy from hitting millions of middle- class families. >>> a seven-vehicle accident closed both directions of new york avenue and bladensburg road this morning. the pileup happened right in front of "the washington times" building. according to police, at least 18 people were
capitol hill is quiet right now after an unprecedented late night. normally these halls would stay empty on new year's day but both the house and senate are in session with billions of dollars in spending cuts and tax increases on the line. lawmakers missed the january 1 deadline but the bill will be retroactive. many taxpayers across the nation are frustrated lawmakers waited so long to act. >> the whole system is flawed. it's terrible that it takes this long to get something done that...
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Dec 27, 2012
12/12
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WBAL
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right now, there is no fiscal agreement for them to vote on. with the nation teetering on the brink, president obama return to washington to work on a deal. >> the american people have a right to be upset with this congress. >> the finger pointing continues with democratic leaders accusing house speaker john boehner of putting his political ambitions ahead of the country's fiscal help. >> it is obvious what he is doing. he is waiting until january 3 to get reelected as speaker before entering serious negotiations. >> boehner says that senator reid should "talk less and legislate more." >> republicans have spent over backwards. we have stepped way, way out of our comfort zone. >> the standoff continues. >> right now, the house and senate are in the blame game. each says the onus is on each other to cover the fiscal cliff. >> both sides hope for a deal, but hopes are fading. and some observers say the deal is more likely after the new year after the tax cuts expire. >> then they will be cutting taxes instead of voting to raise taxes. it is a smal
right now, there is no fiscal agreement for them to vote on. with the nation teetering on the brink, president obama return to washington to work on a deal. >> the american people have a right to be upset with this congress. >> the finger pointing continues with democratic leaders accusing house speaker john boehner of putting his political ambitions ahead of the country's fiscal help. >> it is obvious what he is doing. he is waiting until january 3 to get reelected as speaker...
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Dec 26, 2012
12/12
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obama administration's collectible middle east policy. egypt right now on the grip of the worst political crisis since the fall of the president two years ago. and in syria, increasingly desperate measures to counter an insurgency that is slowly but surely pushing closer to control of the capital city of damascus. we will take all that up there with the fox news military analyst, new intelligence report that concludes america's time as the lone superpower is nearing an end. john negroponte joins us to discuss our nation's future as a superpower and the challenges we surely face. and president obama ignoring immigration reform in the first term only a matter of time before he makes new proposals should republican party takes the lead on the issue. when will it be enough to lure latino voters in that is their purpose. egypt is worsening. clinical crisis shows no signs of easing as the new muslim brotherhood leadership tries to silence opposition. so far the obama administration is trying to play both sides respecting the countries efforts a
obama administration's collectible middle east policy. egypt right now on the grip of the worst political crisis since the fall of the president two years ago. and in syria, increasingly desperate measures to counter an insurgency that is slowly but surely pushing closer to control of the capital city of damascus. we will take all that up there with the fox news military analyst, new intelligence report that concludes america's time as the lone superpower is nearing an end. john negroponte...
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Dec 28, 2012
12/12
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right now to do a deal? >> reporter: that is the suspicion that's shared by a lot of republicans taking it, steve, as almost an article of faith of three weeks, a month, that the president actually wants to go over the cliff and i'm not sure if that's true. i have no way of knowing if that's true. i kind of doubt it. if you look at it, the republicans lose a lot of leverage. they have painted themselves in to this corner. there's no denying that fact. john boehner obviously we know what happened last week. sifting through the wreckage of the plan "b." gone back to plan "a," a bill passed by the congress and extending tax cuts for everyone and sent to the senate. they don't expect the senate to take that. use that as a legislative vehicle and what's today? saturday. new year's eve is -- sorry. today's friday. too much holiday cheer. but come on. i mean -- >> he will be working the weekend. >> reporter: i am. oh my god. i don't want to get started on that. but anyway, you know, there's a lot at stake here. and
right now to do a deal? >> reporter: that is the suspicion that's shared by a lot of republicans taking it, steve, as almost an article of faith of three weeks, a month, that the president actually wants to go over the cliff and i'm not sure if that's true. i have no way of knowing if that's true. i kind of doubt it. if you look at it, the republicans lose a lot of leverage. they have painted themselves in to this corner. there's no denying that fact. john boehner obviously we know what...
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Dec 24, 2012
12/12
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but unfortunately he did think it right and then obama evin leader some believe could repeated some of his mistakes. so the very next night in the white house they did it again. it was the second oaf and this time roberts used notes which he hadn't used the first time and they got a right. so that chapter in my book is called they did it again. [laughter] in 1965 ladybird johnson became the first lady to hold the bible as the oath was administered. there was a president and that has been the case ever since. you can see here from the inauguration four years earlier jack kennedy is off to the left in the picture and the bible was instead held by james browning who was a clerk of the supreme court. a few more pictures to show you. here's ronald reagan swearing in in 1981 jimmy carter out of president to the right of the picture and bill clinton in 1993 years 1985 this is the second inauguration and notice it is a different locale yet the reason is because the weather was so bad in washington, d.c. in 1985 there is a factor if everything got canceled, the parade canceled, they moved the o
but unfortunately he did think it right and then obama evin leader some believe could repeated some of his mistakes. so the very next night in the white house they did it again. it was the second oaf and this time roberts used notes which he hadn't used the first time and they got a right. so that chapter in my book is called they did it again. [laughter] in 1965 ladybird johnson became the first lady to hold the bible as the oath was administered. there was a president and that has been the...
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but let's look at what democrats have put on the table and try to obama i mean as someone who is to the left of president obama i've been watching the fiscal cliff negotiations and horror i mean he's the first off you raise the limit from two hundred fifty thousand to four hundred thousand you put cuts to social security significant cuts we're talking fifteen hundred dollars less in benefits for people retiring because he's tweaking the. chicken prices go up and here's can eat cat food so let's see he said ok we can get away rid of the payroll tax cut which basically only helps working class americans how why haven't republicans taken any of these deals and what sort of deal would or would republicans at this point i think most most conservative republicans are willing to just go off the cliff right now and just see what happens because if any any solution or any compromise is just going to give the president another excuse to take a victory lap and a lot of conservatives on capitol hill just can't stomach another obama victory lap so politically there's a problem the other problem
but let's look at what democrats have put on the table and try to obama i mean as someone who is to the left of president obama i've been watching the fiscal cliff negotiations and horror i mean he's the first off you raise the limit from two hundred fifty thousand to four hundred thousand you put cuts to social security significant cuts we're talking fifteen hundred dollars less in benefits for people retiring because he's tweaking the. chicken prices go up and here's can eat cat food so let's...
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Dec 28, 2012
12/12
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CNBC
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>> i think we'll probably see 20% for both not counting the obama care. >> is that the right answer? >> well, i'd like to keep them as low as possible. but given that they're going to need to raise some money, my guess is they're going to go up modestly. i think 20 is probably about right. it's a better answer than ordinary income rates on dividends. but i'd like to ask tom, you know, people who point to the dividend effect also think it might be overblown because about 70% of dividend paying stocks are owned by investors, either foreigners, or in tax -- you know, tax exempt plans, retirement accounts, where tax rate doesn't matter. does that make you feel a little bit better about what might be going on in washington? >> no. look, we know that the deal in washington must involve reducing costs. we've got to be flexible on revenues. but we've got to be for growth. when you think about tax policy with respect to growth capital, why in the world do you want to create artificial incentives for -- artificial disincentives to create capital information. why do you want a tax growth? that'
>> i think we'll probably see 20% for both not counting the obama care. >> is that the right answer? >> well, i'd like to keep them as low as possible. but given that they're going to need to raise some money, my guess is they're going to go up modestly. i think 20 is probably about right. it's a better answer than ordinary income rates on dividends. but i'd like to ask tom, you know, people who point to the dividend effect also think it might be overblown because about 70% of...
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Dec 31, 2012
12/12
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what jonathan wrote why is obama caving on tacks? the discouraging thing about the fiscal cliff negotiations is not that they have gone into the eleventh hour. it's that president obama has retreated on his hard line on taxes. obama may think his conciliatory approach has helped avoid economic chaos. instead, he is courting it." i want to go right to jimmy williams because you have been a senate staffer. you understand how this thing works. why would the white house even bother to increase from 250,000 to 400,000. they don't really have to. they're winning this fives fight. >> the only people that actually care whether or not the threshold is 250,000 to 400,000 are these people that are going to vote on it. nobody else really cares. all they really care is that you get a deal. these people are sitting at ground zero. these snores, these liberals. i'm a liberal. i don't care what the thereby hold is. i don't give a damn if it's a million. i just want them to get a deal or go over the cliff, but somebody just make up your mind up on ca
what jonathan wrote why is obama caving on tacks? the discouraging thing about the fiscal cliff negotiations is not that they have gone into the eleventh hour. it's that president obama has retreated on his hard line on taxes. obama may think his conciliatory approach has helped avoid economic chaos. instead, he is courting it." i want to go right to jimmy williams because you have been a senate staffer. you understand how this thing works. why would the white house even bother to increase...
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Dec 27, 2012
12/12
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the far right hate obama. you're right, steve. when does the ha tread get into it -- >> they're definitely going to hate her. there's no question about that, but is it going to stick the way it did last time? >> why will they hate her? >> well, they're going to find some reason. i don't know what it is now. i think it's going to be very tough to argue -- >> do you find reasons to hate people. >> well, you know -- >> why would you find a reason? >> i'm looking at the polarized politics we have in this country and i think they will. i think she's in a very different position. she's not bill clinton's wife trying to reform health care. she's a woman positioned smartly on the world stage and it's been hawkish on many issues. tough to argue with. >> back to you steve for the offense. you're making your case. when will the etch-a-sketch come out? >> i i think it might be connected to this benghazi stuff. you started to hear some snide voices -- >> they nailed susan rice. they nailed the -- they were going after everybody but the secreta
the far right hate obama. you're right, steve. when does the ha tread get into it -- >> they're definitely going to hate her. there's no question about that, but is it going to stick the way it did last time? >> why will they hate her? >> well, they're going to find some reason. i don't know what it is now. i think it's going to be very tough to argue -- >> do you find reasons to hate people. >> well, you know -- >> why would you find a reason? >> i'm...
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instead president obama should be putting progressive solutions on the table things like a financial transaction tax and you know on every every action on wall street every time they buy or sell something just a little t.v. judge x. it would reduce the debt by one point eight trillion dollars over the next decade be attacks like this one thousand nine hundred sixty nine hundred sixty four or cutting off taxpayer subsidies to big oil which total forty billion dollars over ten years or ending the massive capital gains loophole which sets income taxes on hedge fund managers and vulture capitalists like mitt romney and people like paris hilton at a maximum fifteen percent less than a half of what actual working people pay or common sense cuts to our bloated wasteful defense budget or how to raising the minimum wage that would stimulate the economy and those over the long haul reduce our debt because more people would be paying more taxes or breaking up the big banks to prevent more costly deficit expanding bailouts in the future or how about creating a single payer health care system wou
instead president obama should be putting progressive solutions on the table things like a financial transaction tax and you know on every every action on wall street every time they buy or sell something just a little t.v. judge x. it would reduce the debt by one point eight trillion dollars over the next decade be attacks like this one thousand nine hundred sixty nine hundred sixty four or cutting off taxpayer subsidies to big oil which total forty billion dollars over ten years or ending the...
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Dec 28, 2012
12/12
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would you put her where i put her on foreign policy to the right of obama? rana? >> i would. >> and safer politically for an election in a general election given the fact people normally want to switch parties every eight years. you don't want to run as a xerox of obama. your thoughts. >> i do think she's to the right on foreign policy. i think what's going to be really interesting is seeing where she is economically. she's been very savvy about using economic statecraft to advance foreign policy goals for the u.s. it will be interesting to see what she brings to the economic debate because i think that's still going to be a debate in the next election. jobs. how to grow, how to get the country back on track. it will be really interesting to see where it comes off. >> i have you as a feminist, everybody is a feminist right now. it's a good position to be in politically. do you think she will have an unusually high draw among women voters? and that's maybe a dumb question, but could she get up to 65% or 70% of the women voters as opposed to 55%. >> >> that would be
would you put her where i put her on foreign policy to the right of obama? rana? >> i would. >> and safer politically for an election in a general election given the fact people normally want to switch parties every eight years. you don't want to run as a xerox of obama. your thoughts. >> i do think she's to the right on foreign policy. i think what's going to be really interesting is seeing where she is economically. she's been very savvy about using economic statecraft to...
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Dec 29, 2012
12/12
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, it should have been a referendum on barack obama's performance. but his campaign was determined to make it a choice between him and mitt romney. and what was really remarkable is by time election day rolled around, the election had almost become a referendum on mitt romney. gwen: yeah, funny how they turned that around. after it was all over, a lot of the things we didn't believe during the campaign, the obama people said oh, we figured this out. we know who our voters are. we know where to spend the money. we thought they were boasting. and it turns out they were right. >> the one thing, really, i think defied everybody's expectations is what the obama campaign said they were going to do, was that they were going to turn out an electorate in 2012 that looked very much like the electorate in 2008, that they were going to get huge numbers of african americans and young people. that they were going to mobilize the hispanic vote. a lot of republicans couldn't believe these polling numbers. there were so much talk of skewed polls. after the election t
, it should have been a referendum on barack obama's performance. but his campaign was determined to make it a choice between him and mitt romney. and what was really remarkable is by time election day rolled around, the election had almost become a referendum on mitt romney. gwen: yeah, funny how they turned that around. after it was all over, a lot of the things we didn't believe during the campaign, the obama people said oh, we figured this out. we know who our voters are. we know where to...
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Dec 29, 2012
12/12
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FOXNEWSW
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thank you for joining us, look, here we are right now on friday, we heard the president following his meeting with congressional leaders at the white house. president obama told reporters that he was modestly optimistic that a deal could be reached. he's counting on the sen if we l cliff because john boehner, the speaker of the house of representatives wasn't able to get the republicans to get the republicans to support a plan b. >> here is the rub, may i go? here is the rub. >> please. >> boehner knows how to negotiate and took on bowles plan, simpson bowles, he took on part of their plan, his first proposal. his second proposal was nancy pelosi's proposal she offered in may of this year of doing tax cuts on people of one million dollars and above, that are one million and above. >> and now plan c now. >> now, now proposal-- >> for the republicans to get-- >> no, he was not and that's his failure dealing with his party, but as for negotiating, boehner has put forth many things. it's president obama that needs to take a page out of the play book of clinton to be able to move more to t
thank you for joining us, look, here we are right now on friday, we heard the president following his meeting with congressional leaders at the white house. president obama told reporters that he was modestly optimistic that a deal could be reached. he's counting on the sen if we l cliff because john boehner, the speaker of the house of representatives wasn't able to get the republicans to get the republicans to support a plan b. >> here is the rub, may i go? here is the rub. >>...
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Dec 25, 2012
12/12
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CSPAN2
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not michelle obama. >> hi, nice to meet you. this is for you? >> yes, my name is logan. >> what do you do? >> underwriter, too. >> and working as an economist right now. >> initiative made to stand up and understand the new unemployment number. [inaudible] >> no, but i wanted to kiss her because it got me so much press. [inaudible] website that there was low-key they asked all the things. so i loved that. >> thank you. >> you're welcome. nice to meet you. i don't like >> -- 55th anniversary. >> fantastic. when is it? >> today. >> happy anniversary to you, too. >> on your screen now as brains and occurred, professor at the university. his most recent, two generations, for families and history of america's influence in the middle east. professor vandermark, who is daniel was? how did he go about doing that? >> with american entrepreneurial spirit. he also had the financial backing. i've been phelps dodge in the 19th century. >> book was reverend bliss is cool and founded the american university? >> 's initial cool deferred from what became his lif
not michelle obama. >> hi, nice to meet you. this is for you? >> yes, my name is logan. >> what do you do? >> underwriter, too. >> and working as an economist right now. >> initiative made to stand up and understand the new unemployment number. [inaudible] >> no, but i wanted to kiss her because it got me so much press. [inaudible] website that there was low-key they asked all the things. so i loved that. >> thank you. >> you're welcome....
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Dec 26, 2012
12/12
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what can you tell us about that sfl. >> that's right. according to a senior official, president obama has been kept up to date on the condition of former president bush. he is recovering. he spent christmas in the hospital. doctors kept him there after concern that his fever was increasing. now, the senior administration officials won't confirm who's updating president obama. karen, it's not unusual for a sitting president to be kept in the loop when this type of situation arouss. when a former president is ill. so we are being told he has been kept in the loop. and of course the entire white house watching quite closely and everyone hoping he makes a full recovery soon. doctors have said they are cautiously optimistic. that former president bush will recover. so everyone with the white house sharing that opinion. >> and our prayers are with him as i'm sure the president's are. so kristen, just switching gears here. there's been no action on the fiscal cliff in the last few days. you've got the president coming back. you've got boehner a
what can you tell us about that sfl. >> that's right. according to a senior official, president obama has been kept up to date on the condition of former president bush. he is recovering. he spent christmas in the hospital. doctors kept him there after concern that his fever was increasing. now, the senior administration officials won't confirm who's updating president obama. karen, it's not unusual for a sitting president to be kept in the loop when this type of situation arouss. when a...
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Dec 28, 2012
12/12
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FOXNEWSW
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so right up until now obama has what he wanted, which was a partisan, political success. he's been less worried about the fiscal issue for two reasons. number one, he does not care about debt. he hasn't in the four years. and number two, he thinks he's a political winner if we go over the cliff. he thinks he's holding all the cards. >> all right. charles, let me agree with one point. you use the term, and i will concede that's the perfect term, ruthless skill. but, as bob woodward pointed out when he wrote this book about the grand bargain negotiations, it's not going to be looked at through this historical prism as the boehner era, this is the obama e.r.a. if the economists are right and things don't go well for the country, doesn't the president have to worry about that legacy of his? >> i agree with you entirely. i have argued from the beginning that republicans should hold out. that they had more strength than they thought. that obama wasn't holding all the cards. i think he has the advantage obviously because republicans in all the policy are the ones who will take t
so right up until now obama has what he wanted, which was a partisan, political success. he's been less worried about the fiscal issue for two reasons. number one, he does not care about debt. he hasn't in the four years. and number two, he thinks he's a political winner if we go over the cliff. he thinks he's holding all the cards. >> all right. charles, let me agree with one point. you use the term, and i will concede that's the perfect term, ruthless skill. but, as bob woodward pointed...
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Dec 27, 2012
12/12
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closer to obama's $400,000. >> i think that's about right. sounds about like $400,000. >> which leaves out less than 2% of the people. >> absolutely. >> people say that's an average income. most people make about $40,000 a year. that's average. $40,000 and that's with three or four kids too. >> there's only a couple places in the country somebody would look at $400,000 and think it's extremely wealthy. >> even in washington, d.c. if you make $400,000 for a couple you're rich. >> this weekend the president's been a tough negotiator. as you said with republicans. i think he's been tough. the general reports about one meeting with boehner, quote, at one point according to notes taken by a participant, mr. boehner said i put $800 billion in tax revenue on the table. what do i get for that? you get nothing. i get that for free. august of 2011. you missed your opportunity on that, the president told him. i'm suspicious of the way these quotes are remembered. first of all, i've learned this from reading lots of books. nobody remembers exact quotes.
closer to obama's $400,000. >> i think that's about right. sounds about like $400,000. >> which leaves out less than 2% of the people. >> absolutely. >> people say that's an average income. most people make about $40,000 a year. that's average. $40,000 and that's with three or four kids too. >> there's only a couple places in the country somebody would look at $400,000 and think it's extremely wealthy. >> even in washington, d.c. if you make $400,000 for a...
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Dec 29, 2012
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president obama addressed reporters from the white house this evening. roughly an hour after meeting with leaders of the house and senate. >> i still want to get this done. it's the right thing to do for our families, for our businesses, and for our entire economy. but the hour for immediate action is here. it is now. >> senate leaders harry reid and mitch mcconnell were back at the capitol in no time. mcconnell gathered his members to inform them of the work that needs to be done. >> we had a good meeting down at the white house. we are engaged in discussions, the majority leader and myself and the white house, in the hopes that we can come forward, as early as sunday, and have a recommendation, that i can make to my conference and the majority leader can make to his conference, so we'll be working hard to try to see if we can get there in the next 24 hours. so i'm hopeful and optimistic. >> i'm going to do everything that i can. i'm confident senator mcconnell will do the same. but everybody, this is -- whatever we come up with is going to be imperfect
president obama addressed reporters from the white house this evening. roughly an hour after meeting with leaders of the house and senate. >> i still want to get this done. it's the right thing to do for our families, for our businesses, and for our entire economy. but the hour for immediate action is here. it is now. >> senate leaders harry reid and mitch mcconnell were back at the capitol in no time. mcconnell gathered his members to inform them of the work that needs to be done....
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Dec 26, 2012
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you're right. in practice -- >> that means he doesn't agree with you. >> i think you make good points. the truth is the person who's going to set the policy and agenda is barack obama. he's very hands on. it's really a symbolic fight. the question is do you need a symbolic fight when you can get somebody else to do what you want just as well without going through combat, intense combat, over some of these legislative issues, especially the budget stuff right away. it seems to me -- >> what that sounds like, i want to get joy in the panel, that sounds what you hear from washington democrats, every time they are losing is a symbolic fight. you know who doesn't think it's a symbolic fight, the republicans don't seem to think this is a symbolic fight. the republicans don't think this is a waste of, quote, political capital, joy, the republicans seem to think it is worth going hard at the war cabinet of this war president. >> the republicans aren't good at distinguishing between necessary and unnecessar
you're right. in practice -- >> that means he doesn't agree with you. >> i think you make good points. the truth is the person who's going to set the policy and agenda is barack obama. he's very hands on. it's really a symbolic fight. the question is do you need a symbolic fight when you can get somebody else to do what you want just as well without going through combat, intense combat, over some of these legislative issues, especially the budget stuff right away. it seems to me --...
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Jan 1, 2013
01/13
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of course president obama wants the house to take this up right away. he says while neither democrats nor republicans got everything they wanted this agreement is the right thing to do for our country and the house should pass it without delay. this does, though, john, come down to rank and file republicans. they've proven the hardest to please here. and so they may not just take up the bill. they could amend the bill, change it more to their liking, and send it back to the senate. that's one possibility. and we don't know exactly which direction house republicans are going to choose. but the bottom line is, is house speaker john boehner who determines what goes to the house floor. >> and of course the last time he went to his caucus and said hey, guys, it didn't work out so well for him. but this is different, brianna, largely because he doesn't need every one of his republican votes on this. they need to cobble together a group of republicans and a group of democrats to get this passed, correct? >> that's right. and this is different for a couple of r
of course president obama wants the house to take this up right away. he says while neither democrats nor republicans got everything they wanted this agreement is the right thing to do for our country and the house should pass it without delay. this does, though, john, come down to rank and file republicans. they've proven the hardest to please here. and so they may not just take up the bill. they could amend the bill, change it more to their liking, and send it back to the senate. that's one...
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Dec 29, 2012
12/12
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the republican party is tilted right and i think if romney beats obama then it will be because he won a lot of dependent -- independent voters who move from party to party and election to election. the tea party movement is not here to stay but it at least entered the bloodstream. despite the voting behavior of congress. you see for example the ryan budget and both in 2011 in 2012 when it came up for a boat, all of these republicans who previously voted against it, now vote for it. if they failed them before they will be primary by someone who gets to the right and in fact one of people i read about in the book is a moderate republican named emerson from missouri. she voted against a couple of things and the voting behavior was not right-wing. so that sort of behavior strikes fears in the hearts of a lot of legislators. >> infective governor romney loses the response from the tea party will be i told you so. [inaudible] >> do you see the same level of gridlock and what do you see coming down the line? >> bias in the idea that there are a lot of unfilled vacancies and how this new cong
the republican party is tilted right and i think if romney beats obama then it will be because he won a lot of dependent -- independent voters who move from party to party and election to election. the tea party movement is not here to stay but it at least entered the bloodstream. despite the voting behavior of congress. you see for example the ryan budget and both in 2011 in 2012 when it came up for a boat, all of these republicans who previously voted against it, now vote for it. if they...
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Dec 29, 2012
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could go back to 2012, right now, and get the deal president obama offered them a week ago, which only raised about $1.2 trillion in taxes. because here's what i think is going to happen now. if we get a small deal before we go over the fiscal cliff, either because harry reid and mitch mcconnell come to a deal in the senate, or because democrats jam the republicans in congress, it's mostly going to be about extending the bush tax cuts for the middle class, which will mean letting them expire for the rich. that will net somewhere around $600 billion in new tax revenue. the white house will pocket that. they will have got in three quarters of what they wanted last year, before even the negotiations had really kicked off. then we're going to go over the cliff and the pressure will mount quickly to strike another deal. republicans are still going to want entitlement cuts sop the white house will insist that the next deal include a dollar in tax increases for every dollar in spending cuts. so in that next deal, image republicans want $800 billion in spending cuts, a number of they've kicked
could go back to 2012, right now, and get the deal president obama offered them a week ago, which only raised about $1.2 trillion in taxes. because here's what i think is going to happen now. if we get a small deal before we go over the fiscal cliff, either because harry reid and mitch mcconnell come to a deal in the senate, or because democrats jam the republicans in congress, it's mostly going to be about extending the bush tax cuts for the middle class, which will mean letting them expire...
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Dec 28, 2012
12/12
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and we will be right back gerri: president obama calling on congress to act to avoid the fiscal cliff. the president said he is optimistic. modestly optimistic, that is, that a deal can be done. here is the president. >> i still want to get this done. it's the right thing to do for our families and our businesses and for our entire economy. but for immediate action comedy hour is here. it is now. we are now at the point where in just four days, every american's tax rates are scheduled to go up by law. every american paycheck will get considerably smaller. that would be the wrong thing to do. gerri: no kidding. we have been telling you that for weeks. democrats and republicans alike should rename their parties the procrastination party. that is because like a lot of college freshman, they left their work until the last minute. including the 800 billion-dollar fiscal cliff that we have been talking about. a hundred billion dollars it hasn't happened yet. it's not like the deadline comes as a surprise to anybody at all, the least of all congress. they were the ones who extended the bush
and we will be right back gerri: president obama calling on congress to act to avoid the fiscal cliff. the president said he is optimistic. modestly optimistic, that is, that a deal can be done. here is the president. >> i still want to get this done. it's the right thing to do for our families and our businesses and for our entire economy. but for immediate action comedy hour is here. it is now. we are now at the point where in just four days, every american's tax rates are scheduled to...